Fraud seeking out e-Gold Accounts
Photo by: Jeff Belmonte
e-Gold accounts are presently the target of an international scam trying to pull off big purchases using compromised e-Gold accounts. The scam may enjoy a great success given that the service enjoys a huge customer base covering 165 countries and processes payments worth $1 billion annually.
e-Gold is popularly employed by importers who like to use the service to make payments for goods electronically. It empowers them to use their gold reserves as currency in order to make payments.
Fraudsters, however, are misusing this service to scam big time. To start with, they enroll themselves as members of the company and open e-gold accounts for themselves. They receive unique code numbers from the company to access their account. They play with the codes to arrive at codes immediately after or just before theirs, with the aim of breaking into those accounts.
If they get lucky, all the buying power of the accounts comes to be at their disposal. Using these accounts, they order goods ranging from cars to laptops, online.
The sad part is perpetrators of the scam are likely to go scot-free. Since the transaction happens online, the trail leading to the scammers goes cold after investigators take, but, a few steps.
Source: Tribune.com.ng
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